An assessment of funding operations of parastatals: a case of National Museums and Monuments of Zimbabwe

Abstract

This study sough to investigate the assessment of parastatals funding, specified to the case study of National Museums and Monuments of Zimbabwe .The statement of the problem is that the company is facing financial problems as evidenced by recurring losses. This is as a result of continuous decline in government support in form of grants and poor performance of domestic revenue inflows against the background of rising recurrent expenditures which has been forecast to continue to constrain the fiscal space of the company. This has resulted to less revenue being realized for projects and general core business of the company, and prompted this research to be undertaken. Research was carried out in Harare. Research findings indicated that problems faced by the company were being contributed by poor information network dissemination, personnel incompetency and demotivation of staff to participate in funding policy implementation programs. Both primary and secondary data methods were used to gather data which was statistically presented using tables and graphs. Conclusively there is need for National Museums and Monuments of Zimbabwe to find ways to mitigate challenges which the company is currently facing.